President Adama Barrow led the quarterly session of the National Economic Council (NEC) at the State House in Banjul. The meeting revolved around assessing the economic landscape, identifying risks, and deliberating on strategic policies. Stakeholders from key economic institutions presented reports covering the latter part of 2024 and the start of 2025.
The Central Bank of The Gambia (CBG) provided its analysis, highlighting a forecasted 3.3% growth in the global economy for 2025-2026, noting potential disruptions from trade conflicts. The Sub-Saharan Africa region, including The Gambia, is predicted to experience over 5% growth, with The Gambia specifically projecting a 5.9% increase coupled with a decrease in inflation to 9.4%. Other indicators include the FAO food price index decline and a drop in crude oil prices in February.
CBG addressed the Dalasi's stable natural depreciation and the influence of potential deportations on remittance flows. By early 2025, remittance figures reached 130.3 million Dalasis, with tourist arrivals increasing to 224,000.
The Ministry of Finance and Economic Affairs reported a 3.1 billion Dalasis budget support influx in December 2024. The IMF’s ongoing programs tie into the National Development Plan, transitional justice initiatives, macroeconomic stability, and public finance. Social protection saw an increase in household financial support beneficiaries, rising to a total of 2,850 households in 2025.
The Gambia Revenue Authority (GRA) conducted tax audits and surpassed its 2024 revenue targets, observing a growth of 32%. Fuel marking contributed to this growth, with digital enhancements anticipated for VAT invoicing processes post-procurement.
An emphasis was placed on the impact of digitalization, with the Accountant General Department (AGD) reporting improvements in government payment systems and the completion of asset inventories. The AGD's collaboration with Fintech firms seeks to better payment gateway functions.
In 2024, The Gambia Investment and Enterprise Promotion Agency (GIEPA) recorded nine newly operational companies. The launch of platforms like the Gambia e-market and GAMLUMO aims to promote exports, aligning with the National Export Strategy 2021-2025.
The Gambia Public Procurement Authority (GPPA) has introduced a new e-GP / GPP portal and continues working on a standardized vehicle specification and local content bill. Plans for the National Public Procurement Policy and Strategic Plan are underway.
The Ministry of Trade, Industry, Employment and Regional Integration detailed migrant worker agreements with the Kingdom of Saudi Arabia and Spain, with planned joint selections for the latter. Price indices of basic commodities showed stability in early 2025.
Vice President Muhammed B.S. Jallow, along with ministers, institutional heads, and strategic policy personnel, attended the meeting.
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